4. A simple random sample of 100 customers is selected from an account receivable portfolio and...
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4. A simple random sample of 100 customers is selected from an
account receivable portfolio and...
5. The servicing time at the drive-through lane of a fast food restaurant follows an exponential distribution. The average servicing time is 2 minutes. (4 points) YORKVILLE BUSI 1013 statistics...
5. The servicing time at the drive-through lane of a fast food restaurant follows an exponential distribution. The average servicing time is 2 minutes. (4 points) YORKVILLE BUSI 1013 statistics for Business What is the probability that it takes more than 2.5 minutes to service a customer at the drive-through lane? b. a. What percent of customers at the drive-through lane will take between 1 to 3 minutes to service? Part B 1. A simple random sample of 50 customers...
A simple random sample of 30 items resulted in a sample mean of 50. The population...
A simple random sample of 30 items resulted in a sample mean of 50. The population standard deviation is σ = 10. a. Compute the 95% confidence interval for the population mean. Round your answers to one decimal place. Enter your answer using parentheses and a comma, in the form (n1,n2). Do not use commas in your numerical answer (i.e. use 1200 instead of 1,200, etc.) b. Assume that the same sample mean was obtained from a sample of 90...
Suppose a survey research firm selected a simple random sample of 300 people for the purposes...
Suppose a survey research firm selected a simple random sample of 300 people for the purposes of estimating their mean weekly income and found that the sample mean was $1,345.78 with a standard deviation of $257.90 Calculate the 90% confidence interval for the population mean.
A simple random sample of 50 items resulted in a sample mean of 30. The population...
A simple random sample of 50 items resulted in a sample mean of 30. The population standard deviation is σ = 10. a. Compute the 95% confidence interval for the population mean. Round your answers to one decimal place. Enter your answer using parentheses and a comma, in the form (n1,n2). Do not use commas in your numerical answer (i.e. use 1200 instead of 1,200, etc.) b. Assume that the same sample mean was obtained from a sample of 100...
A simple random sample of 60 items resulted in a sample mean of 80
A simple random sample of 60 items resulted in a sample mean of 80. The population standard deviation is σ=15. a. Compute the 95% confidence interval for the population mean. Round your answers to one decimal place b. Assume that the same sample mean was obtained from a sample of 120 items. Provide a 95% confidence interval for the population mean. Round your answers to two decimal places c. What is the effect of a larger sample size on the interval estimate?
A market researcher collects a simple random sample o customers from a population o over a...
A market researcher collects a simple random sample o customers from a population o over a million customers that use a home improvement website. After analyzing the sample, she states that she has 95% confidence that the mean time customers spent on that website per day is between 17 and 52 minutes. Suppose that the population mean time customers spent on that website is 49 minutes a day. Does this value of the population mean help to show that the...
A simple random sample of 60 items resulted in a sample mean of 90. The population...
A simple random sample of 60 items resulted in a sample mean of 90. The population standard deviation is 13. 1) Compute the 95% confidence interval for the population mean (to 1 decimal). 2) Assume that the same sample mean was obtained from a sample of 120 items. Provide a 95% confidence interval for the population mean (to 2 decimals). 3) What is the effect of a larger sample size on the margin of error?
A simple random sample of size 64 is drawn from a normal population with a known...
A simple random sample of size 64 is drawn from a normal population with a known standard deviation σ. The 95% confidence interval for the population mean μ is found to be (12, 16). The approximate population standard deviation σ is:
A simple random sample of size n = 20 is drawn from a population that is...
A simple random sample of size n = 20 is drawn from a population that is normally distributed. The sample mean is found to be x = 66 and the sample standard deviation is found to be s = 10. Construct a 90% confidence interval about the population mean.
A simple random sample of 40 items resulted in a sample mean of 60. The population...
A simple random sample of 40 items resulted in a sample mean of 60. The population standard deviation is σ =20 . a. Compute the 95% confidence interval for the population mean. Round your answers to one decimal place. ( , ) b. Assume that the same sample mean was obtained from a sample of 130 items. Provide a 95% confidence interval for the population mean. Round your answers to two decimal places. ( , )
5. The servicing time at the drive-through lane of a fast food restaurant follows an exponential distribution. The average servicing time is 2 minutes. (4 points) YORKVILLE BUSI 1013 statistics for Business What is the probability that it takes more than 2.5 minutes to service a customer at the drive-through lane? b. a. What percent of customers at the drive-through lane will take between 1 to 3 minutes to service? Part B 1. A simple random sample of 50 customers...
A market researcher collects a simple random sample o customers from a population o over a million customers that use a home improvement website. After analyzing the sample, she states that she has 95% confidence that the mean time customers spent on that website per day is between 17 and 52 minutes. Suppose that the population mean time customers spent on that website is 49 minutes a day. Does this value of the population mean help to show that the...
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